If I'm correct in my analysis, then I'd guess I'm also looking for a mentor if anyone is willing!

You are correct that there is a lot of variability in prices.  

Nothing illegal about doing that, but if caught, the lender may call the loan due and if you don't correct the situation or pay the loan off, they willstart mortgage foreclosure.3) You could also go the HELOC route to tap the equity in the home, but the 12-month owner-occupancy will also apply AND the interest rate on the HELOC will fluctuate with the Fed Fund Rate.4) You could do a cashout refi as an investment property, but that will be at an interest rate 0.5-1% higher than owner-occupied rate.Suggest you meet with 2-3 lenders to explore your options about the above.Once you have access to funds, recommend you buy a 2-4 unit with 20-25% down. - You can buy owner-occupied, live in one unit, and fix up and rent the other unit(s).- If you're handy, recommend buying a property in the worst condition you can tolerate.

Hire a reliable co-host or property manager (15-25% of revenue), automate pricing and guest communication with tools like PriceLabs and Hospitable, and build a strong cleaning/maintenance team to handle turnovers and inspections.

Professional PMs use specialized tools to verify income directly with a tenant’s bank or payroll service, ensuring legitimacy.

* Finally, could you recommend any valuable tools or learning resources?

If you control how they perform tasks, set their hours, or provide tools, they should likely be a W-2 employee, requiring you to withhold taxes and comply with payroll regulations.

Hey @Juan MendozaThe posters who are saying that the building code does not require a closet for a room to be considered a bedroom are correct.

However, I’m new to navigating such a situation, and I’m looking for guidance on:Collaborating with neighboring property owners to reduce costs and share resources.Structuring deals involving land contributions and joint development efforts.Attracting capital partners for projects like this.I think this could turn into a win-win for everyone involved, but I want to ensure it’s planned and structured correctly.

As one might expect, there is a real tool here but it's more for niche problems than for widespread use.